Veterans' business outreach center program; Office of Veterans Business Development

(a)

In general

Section 32 of the Small Business Act (15 U.S.C. 657b) is amended—(1)by striking subsection (d);(2)by striking subsection (f);(3)by redesignating subsection (e) as subsection (f);(4)by inserting after subsection (c) the following:

(d)

Boots to Business Program

(1)

Definitions

In this subsection the term covered individual means—(A)a member of the Armed Forces;(B)an individual who separated from the Armed Forces during the 1-year period ending on the date on which the individual receives assistance under this subsection; and(C)a spouse or dependent of an individual described in subparagraph (A) or (B).(2)

Establishment

There is established a program to be known as the Boots to Business Program to provide entrepreneurship training to covered individuals, which shall be carried out by the Administrator.(3)

Goals

The goals of the Boots to Business Program are to—(A)provide exposure, introduction, and in-depth training for covered individuals interested in business ownership; and(B)provide covered individuals with the tools and knowledge necessary to identify a business opportunity, draft a business plan, connect with local small business resources, and launch a small business concern.(4)

Program components

(A)

In general

The Boots to Business Program may include—(i)a brief presentation providing exposure to the considerations involved in self employment and small business ownership;(ii)an in-person classroom instruction component providing an introduction to the foundations of self employment and small business ownership; and(iii)in-depth training delivered through online instruction, including an online course that leads to the creation of a business plan.(B)

Collaboration

The Administrator may—(i)collaborate with public and private entities to develop a course curriculum for the Boots to Business Program; and(ii)design the course curriculum to allow participants to receive college credit or a certificate through an educational institution upon completion of all components of the Boots to Business Program.(C)

Availability to DOD

The Administrator shall make available electronically all course materials created for the Boots to Business Program to the Secretary of Defense for inclusion in the Transition Assistance Program manual.(e)

Veteran Women Igniting the Spirit of Entrepreneurship

(1)

Definition

In this section, the term covered woman means an individual who—(A)is female; and(B)is—(i)a member of the Armed Forces;(ii)a veteran; or(iii)the spouse or dependent of a member of the Armed Forces or a veteran.(2)

Establishment

The Administrator shall establish a program, to be known as the Veteran Women Igniting the Spirit of Entrepreneurship Program, to provide specific training for covered women interested in exploring careers as owners of small business concerns.(3)

Goals

The goals of the Veteran Women Igniting the Spirit of Entrepreneurship Program are to—(A)help covered women by providing the tools to become successful entrepreneurs; and(B)integrate the leadership, integrity, focus, and drive of covered women into a premier education training program taught by accomplished entrepreneurs and entrepreneurship educators from across the United States.(4)

Program components

(A)

In general

The Veteran Women Igniting the Spirit of Entrepreneurship Program may include—(i)an online, self-study course focused on the basic skills of entrepreneurship and the language of business;(ii)a conference where participants are exposed to accomplished entrepreneurs and entrepreneurship educators from across the United States; and(iii)a plan to provide ongoing support and mentorship.(B)

Collaboration

The Administrator may collaborate with public and private entities to develop a course curriculum for the Veteran Women Igniting the Spirit of Entrepreneurship Program.

; and

(5)by adding at the end the following:

(g)

Entrepreneurship bootcamp for veterans with disabilities Program

(1)

In general

The Administrator shall establish a program, to be known as the Entrepreneurship Bootcamp for Veterans with Disabilities Program, to provide specific training for service-disabled veterans interested in exploring careers as owners of small business concerns.(2)

Goals

The goals of the Entrepreneurship Bootcamp for Veterans with Disabilities Program are to—(A)help service-disabled veterans by providing the tools to become successful entrepreneurs; and(B)integrate the leadership, integrity, focus, and drive of service-disabled veterans into a premier education training program taught by accomplished entrepreneurs and entrepreneurship educators from across the United States.(3)

Program components

(A)

In general

The Entrepreneurship Bootcamp for Veterans with Disabilities Program may include—(i)an online, self-study course focused on the basic skills of entrepreneurship and the language of business;(ii)a conference where participants are exposed to accomplished entrepreneurs and entrepreneurship educators from across the United States; and(iii)a plan to provide ongoing support and mentorship.(B)

Collaboration

The Administrator may collaborate with public and private entities to develop a course curriculum for the Entrepreneurship Bootcamp for Veterans with Disabilities Program.(h)

Online Coordination

(1)

Definition

In this subsection, the term veterans' assistance provider means—(A)a veterans' business outreach center established under subsection (i);(B)an employee of the Administration assigned to the Office of Veterans Business Development; or(C)a veterans business development officer designated under subsection (i)(11)(B).(2)

Establishment

The Associate Administrator shall establish an online mechanism to—(A)provide information that assists veterans' assistance providers in carrying out the activities of the veterans' assistance providers; and(B)coordinate and leverage the work of the veterans' assistance providers, including by allowing a veterans' assistance provider to—(i)distribute best practices and other materials;(ii)communicate with other veterans' assistance providers regarding the activities of the veterans' assistance provider on behalf of veterans; and(iii)pose questions to and request input from other veterans' assistance providers.(i)

Veterans' Business Outreach Center Program

(1)

Definitions

In this subsection—(A)the term active duty has the meaning given that term in section 101 of title 10, United States Code;(B)the term Reservist means a member of a reserve component of the Armed Forces, as described in section 10101 of title 10, United States Code;(C)the term small business concern owned and controlled by veterans—(i)has the same meaning as in section 3(q); and(ii)includes a small business concern—(I)not less than 51 percent of which is owned by one or more spouses of veterans or, in the case of any publicly owned business, not less than 51 percent of the stock of which is owned by one or more spouses of veterans; and(II)the management and daily business operations of which are controlled by one or more spouses of veterans;(D)the term spouse, relating to a member of the Armed Forces on active duty, veteran, service-disabled veteran, or Reservist, includes an individual who, on the date on which the member of the Armed Forces on active duty, veteran, service-disabled veteran, or Reservist died, is the spouse of the member of the Armed Forces on active duty, veteran, service-disabled veteran, or Reservist; and(E)the term veterans' business outreach center program means the program established under paragraph (2)(A).(2)

Program Established

(A)

In general

The Administrator, acting through the Associate Administrator, shall establish a veterans’ business outreach center program, under which the Associate Administrator may provide financial assistance to educational institutions, veterans’ nonprofit community-based organizations, and Federal, State, and local departments and agencies to conduct a 5-year project for the benefit of small business concerns owned and controlled by veterans, which, upon application by the entity receiving financial assistance, may be renewed for one or more additional 5-year periods.(B)

Form of Financial Assistance

Financial assistance under this subsection may be in the form of a grant, a contract, or a cooperative agreement.(3)

Veterans' business outreach centers

Each entity that receives financial assistance under this subsection shall establish or operate a veterans' business outreach center (which may include establishing or operating satellite offices in the region described in paragraph (5) served by that entity) that provides to veterans (including service-disabled veterans), Reservists, and the spouses of members of the Armed Forces on active duty, veterans (including service-disabled veterans), and Reservists—(A)financial advice, including training and counseling on applying for and securing business credit and investment capital, preparing and presenting financial statements, and managing cash flow and other financial operations of a small business concern;(B)management advice, including training and counseling on the planning, organization, staffing, direction, and control of each major activity and function of a small business concern;(C)marketing advice, including training and counseling on identifying and segmenting domestic and international market opportunities, preparing and executing marketing plans, developing pricing strategies, locating contract opportunities, negotiating contracts, and using public relations and advertising techniques; and(D)advice, including training and counseling.(4)

Application

(A)

In general

An entity desiring to receive financial assistance under this subsection shall submit an application to the Associate Administrator at such time and in such manner as the Associate Administrator may require.(B)

5-year plan

Each application described in subparagraph (A) shall include a 5-year plan on proposed fundraising and training activities relating to the veterans' business outreach center.(C)

Determination and Notification

Not later than 90 days after the date on which applications for a fiscal year are required to be submitted under subparagraph (A), the Associate Administrator shall approve or deny any application submitted and notify the applicant of the determination.(D)

Availability of application

The Associate Administrator shall make every effort to make the application under subparagraph (A) available online.(5)

Eligibility

The Associate Administrator may select to receive financial assistance under this subsection—(A)a Veterans Business Outreach Center established by the Administrator under section 8(b)(17) on or before the day before the date of enactment of this subsection; or(B)educational institutions, veterans’ nonprofit community-based organizations, and Federal, State, and local departments and agencies located in various regions of the United States, as the Associate Administrator determines is appropriate.(6)

Selection criteria

(A)

In general

The Associate Administrator shall establish selection criteria, stated in terms of relative importance, to evaluate and rank applicants under paragraph (5)(B) for financial assistance under this subsection.(B)

Criteria

The selection criteria established under this paragraph shall include—(i)the experience of the applicant in conducting programs or ongoing efforts designed to impart or upgrade the business skills of veterans (including service-disabled veterans), Reservists, and the spouses of members of the Armed Forces on active duty, veterans (including service-disabled veterans), and Reservists who own or may own small business concerns;(ii)for an applicant for initial financial assistance under this subsection—(I)the ability of the applicant to begin operating a veterans' business outreach center within a minimum amount of time; and(II)the geographic region to be served by the veterans' business outreach center;(iii)the demonstrated ability of the applicant to—(I)provide managerial counseling and technical assistance to entrepreneurs; and(II)coordinate services provided by veterans services organizations and other public or private entities;(iv)the ability to leverage and coordinate with existing resources and infrastructure of the Administration; and(v)for any applicant for a renewal of financial assistance under this subsection, the results of the most recent examination under paragraph (10) of the veterans' business outreach center operated by the applicant.(C)

Criteria publicly available

The Associate Administrator shall—(i)make publicly available the selection criteria established under this paragraph; and(ii)include the criteria in each solicitation for applications for financial assistance under this subsection.(7)

Amount of assistance

The amount of financial assistance provided under this subsection to an entity for each fiscal year shall be—(A)not less than $100,000; and(B)not more than $300,000.(8)

Federal share

(A)

In general

(i)

Initial financial assistance

Except as provided in clause (ii) and subparagraph (E), an entity that receives financial assistance under this subsection shall provide non-Federal contributions for the operation of the veterans' business outreach center established by the entity in an amount equal to—(I)in each of the first and second years of the project, not less than 33 percent of the amount of the financial assistance received under this subsection; and(II)in each of the third through fifth years of the project, not less than 50 percent of the amount of the financial assistance received under this subsection.(ii)

Renewals

An entity that receives a renewal of financial assistance under this subsection shall provide non-Federal contributions for the operation of the veterans' business outreach center established by the entity in an amount equal to not less than 50 percent of the amount of the financial assistance received under this subsection.(B)

Form of non-federal share

Not more than 50 percent of the non-Federal share for a project carried out using financial assistance under this subsection may be in the form of in-kind contributions.(C)

Timing of disbursement

The Associate Administrator may disburse not more than 25 percent of the financial assistance awarded to an entity before the entity obtains the non-Federal share required under this paragraph with respect to that award.(D)

Failure to obtain non-federal funding

(i)

In general

If an entity that receives financial assistance under this subsection fails to obtain the non-Federal share required under this paragraph during any fiscal year, the entity may not receive a disbursement under this subsection in a subsequent fiscal year or a disbursement for any other project funded by the Administration, unless the Administrator makes a written determination that the entity will be able to obtain a non-Federal contribution.(ii)

Restoration

An entity prohibited from receiving a disbursement under clause (i) in a fiscal year may receive financial assistance in a subsequent fiscal year if the entity obtains the non-Federal share required under this paragraph for the subsequent fiscal year.(E)

Waiver of non-Federal share

(i)

In general

Upon request by an entity, and in accordance with this subparagraph, the Administrator may waive, in whole or in part, the requirement to obtain non-Federal funds under subparagraph (A) for a fiscal year. The Administrator may not waive the requirement for an entity to obtain non-Federal funds under this subparagraph for more than a total of 2 fiscal years.(ii)

Considerations

In determining whether to waive the requirement to obtain non-Federal funds under this subparagraph, the Administrator shall consider—(I)the economic conditions affecting the entity;(II)the impact a waiver under this subparagraph would have on the credibility of the veterans' business outreach center program;(III)the demonstrated ability of the entity to raise non-Federal funds; and(IV)the performance of the entity.(iii)

Limitation

The Administrator may not waive the requirement to obtain non-Federal funds under this subparagraph if granting the waiver would undermine the credibility of the veterans' business outreach center program.(9)

Contract authority

A veterans’ business outreach center may enter into a contract with a Federal department or agency to provide specific assistance to veterans, service-disabled veterans, Reservists, or the spouses of members of the Armed Forces on active duty, veterans, service-disabled veterans, or Reservists with prior written approval of the Associate Administrator. Performance of such contract shall not hinder the veterans’ business outreach center in carrying out the terms of the grant received by the veterans’ business outreach center from the Administrator.(10)

Examination and determination of performance

(A)

Examination

(i)

In general

Not later than 180 days after the date of enactment of this subsection and every year thereafter, the Associate Administrator shall conduct an annual examination of the programs and finances of each veterans’ business outreach center established or operated using financial assistance under this subsection.(ii)

Factors

In conducting the examination under clause (i), the Associate Administrator shall consider whether the veterans' business outreach center has failed—(I)to provide the information required to be provided under subparagraph (B), or the information provided by the center is inadequate;(II)to comply with a requirement for participation in the veterans' business outreach center program, as determined by the Associate Administrator, including—(aa)failure to acquire or properly document a non-Federal share;(bb)failure to establish an appropriate partnership or program for marketing and outreach to small business concerns;(cc)failure to achieve results described in a financial assistance agreement; and(dd)failure to provide to the Administrator a description of the amount and sources of any non-Federal funding received by the center;(III)to carry out the 5-year plan under in paragraph (4)(B);(IV)to meet the eligibility requirements under paragraph (5); or(V)to serve small business concerns in the geographic region served by the veterans' business outreach center.(B)

Information provided

In the course of an examination under subparagraph (A), the veterans' business outreach center shall provide to the Associate Administrator—(i)an itemized cost breakdown of actual expenditures for costs incurred during the most recent full fiscal year, including the amount spent on administrative expenses;(ii)documentation of the amount of non-Federal contributions obtained and expended by the veterans' business outreach center during the most recent full fiscal year;(iii)with respect to any in-kind contribution under paragraph (8)(B), verification of the existence and valuation of such contribution; and(iv)any additional information the Associate Administrator determines necessary.(C)

Determination of performance

(i)

In general

The Associate Administrator shall analyze the results of each examination under subparagraph (A) and, based on that analysis, make a determination regarding the performance of the programs and finances of each veterans' business outreach center.(ii)

Nondelegation of determination

The duty under clause (i) to make a determination regarding the performance of the programs and finances of a veterans' business outreach center may not be delegated.(D)

Discontinuation of funding

(i)

In general

The Associate Administrator may discontinue an award of financial assistance to an entity at any time for poor performance as determined under subparagraph (C).(ii)

Restoration

The Associate Administrator may continue to provide financial assistance to an entity in a subsequent fiscal year if the Associate Administrator determines under subparagraph (C) that the veterans' business outreach center has taken appropriate measures to improve its performance and it is viable.(11)

Coordination of efforts and consultation

(A)

Coordination and consultation

To the extent practicable, the Associate Administrator and each entity that receives financial assistance under this subsection shall—(i)coordinate outreach and other activities with other programs of the Administration and the programs of other Federal agencies;(ii)consult with technical representatives of the district offices of the Administration in carrying out activities using financial assistance under this subsection; and(iii)provide information to the veterans business development officers designated under subparagraph (B) and coordinate with the veterans business development officers to increase the ability of the veterans business development officers to provide services throughout the area served by the veterans business development officers.(B)

Veterans business development officers

(i)

Designation

The Administrator shall designate not fewer than one individual in each district office of the Administration as a veterans business development officer, who shall communicate and coordinate activities of the district office with entities that receive financial assistance under this subsection.(ii)

Initial designation

The first individual in each district office of the Administration designated by the Administrator as a veterans business development officer under clause (i) shall be an individual that is employed by the Administration on the date of enactment of this subsection.(12)

Existing contracts

An award of financial assistance under this subsection shall not void any contract between any entity and the Administration that is in effect on the date of such award.(j)

Authorization of appropriations

There are authorized to be appropriated—(1)to carry out subsection (d), $7,000,000 for each of fiscal years 2015 through 2019;(2)to carry out subsection (e), $500,000 for each of fiscal years 2015 through 2019;(3)to carry out subsection (g), $450,000 for each of fiscal years 2015 through 2019; and(4)to carry out subsection (i)—(A)$3,000,000 for fiscal year 2015;(B)$3,500,000 for fiscal year 2016;(C)$4,000,000 for fiscal year 2017;(D)$4,500,000 for fiscal year 2018; and(E)$5,000,000 for fiscal year 2019.(k)

Reports

Not later than 180 days after the date of enactment of this subsection and every year thereafter, the Associate Administrator shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report, which may be included as part of another report submitted to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives by the Associate Administrator, and which shall include the following:(1)

Boots to business

For the Boots to Business Program under subsection (d)—(A)the number of program participants using each component of the Boots to Business Program;(B)the completion rates for each component of the Boots to Business Program;(C)the demographics of program participants, to include gender, age, race, relationship to military, and years of service;(D)to the extent possible—(i)the number of small business concerns formed or expanded with assistance under the Boots to Business Program;(ii)the gross receipts of small business concerns receiving assistance under the Boots to Business program; and(iii)the number of jobs created with assistance under the Boots to Business program;(E)the number of referrals to other resources and programs of the Administration;(F)the number of program participants receiving financial assistance under loan programs of the Administration;(G)the type and dollar amount of financial assistance received by program participants under loan programs of the Administration;(H)results of participant satisfaction surveys, including a summary of any comments received from program participants;(I)the range of percentage of disability and the average percentage of disability, as identified by the Department of Veterans Affairs, of program participants;(J)an evaluation of the effectiveness of the program in each region of the Administration during the most recent fiscal year;(K)an assessment of additional performance outcome measures for the Boots to Business Program, as identified by the Associate Administrator;(L)any recommendations of the Administrator for improvement of the Boots to Business Program, which may include expansion of the types of individuals who are covered individuals;(M)a discussion of how the Boots to Business program has been integrated with other resources and programs of the Administration; and(N)any additional information the Administrator determines necessary.(2)

Veteran women igniting the spirit of entrepreneurship

For the Veteran Women Igniting the Spirit of Entrepreneurship Program under subsection (e)—(A)the number of program participants using each component of the Veteran Women Igniting the Spirit of Entrepreneurship Program;(B)the completion rates for each component of the Veteran Women Igniting the Spirit of Entrepreneurship Program;(C)the demographics of program participants, to include gender, age, race, relationship to military, and years of service;(D)to the extent possible—(i)the number of small business concerns formed or expanded with assistance under the Veteran Women Igniting the Spirit of Entrepreneurship Program;(ii)the gross receipts of small business concerns receiving assistance under the Veteran Women Igniting the Spirit of Entrepreneurship Program; and(iii)the number of jobs created with assistance under the Veteran Women Igniting the Spirit of Entrepreneurship Program;(E)the number of referrals to other resources and programs of the Administration;(F)the number of program participants receiving financial assistance under loan programs of the Administration;(G)the type and dollar amount of financial assistance received by program participants under loan programs of the Administration;(H)the results of participant satisfaction surveys, including a summary of any comments received from program participants;(I)the range of percentage of disability and the average percentage of disability, as identified by the Department of Veterans Affairs, of program participants;(J)an assessment of additional performance outcome measures for the Veteran Women Igniting the Spirit of Entrepreneurship Program, as identified by the Associate Administrator;(K)any recommendations of the Administrator for improvement of the Veteran Women Igniting the Spirit of Entrepreneurship Program;(L)a discussion of how the Veteran Women Igniting the Spirit of Entrepreneurship Program has been integrated with other resources and programs of the Administration; and(M)any additional information the Administrator determines necessary.(3)

Entrepreneurship bootcamp for veterans with disabilities program

For the Entrepreneurship Bootcamp for Veterans with Disabilities Program under subsection (g)—(A)the number of program participants using each component of the Entrepreneurship Bootcamp for Veterans with Disabilities Program;(B)the completion rates for each component of the Entrepreneurship Bootcamp for Veterans with Disabilities Program;(C)the demographics of program participants, to include gender, age, race, relationship to military, and years of service;(D)to the extent possible—(i)the number of small business concerns formed or expanded with assistance under the Entrepreneurship Bootcamp for Veterans with Disabilities Program;(ii)the gross receipts of small business concerns receiving assistance under the Entrepreneurship Bootcamp for Veterans with Disabilities Program; and(iii)the number of jobs created with assistance under the Entrepreneurship Bootcamp for Veterans with Disabilities Program;(E)the number of referrals to other resources and programs of the Administration;(F)the number of program participants receiving financial assistance under loan programs of the Administration;(G)the type and dollar amount of financial assistance received by program participants under loan programs of the Administration;(H)the results of participant satisfaction surveys, including a summary of any comments received from program participants;(I)the range of percentage of disability and the average percentage of disability, as identified by the Department of Veterans Affairs, of program participants;(J)an assessment of additional performance outcome measures for the Entrepreneurship Bootcamp for Veterans with Disabilities Program, as identified by the Associate Administrator;(K)any recommendations of the Administrator for improvement of the Entrepreneurship Bootcamp for Veterans with Disabilities Program;(L)a discussion of how the Entrepreneurship Bootcamp for Veterans with Disabilities Program has been integrated with other resources and programs of the Administration; and(M)any additional information the Administrator determines necessary.(4)

Veterans’ business outreach center program

For the veterans’ business outreach center program under subsection (i)—(A)an evaluation of the effectiveness of the veterans’ business outreach center program in each region of the Administration during the most recent full fiscal year;(B)for each veterans’ business outreach center established or operated using financial assistance provided under subsection (i)—(i)the number of individuals receiving assistance from the veterans’ business outreach center, including the number of such individuals who are—(I)veterans or spouses of veterans;(II)service-disabled veterans or spouses of service-disabled veterans;(III)Reservists or spouses of Reservists; or(IV)spouses of members of the Armed Forces on active duty;(ii)the number of small business concerns formed by individuals receiving assistance from the veterans’ business outreach center, including—(I)veterans or spouses of veterans;(II)service-disabled veterans or spouses of service-disabled veterans;(III)Reservists or spouses of Reservists; or(IV)spouses of members of the Armed Forces on active duty;(iii)to the extent possible—(I)the gross receipts of small business concerns receiving assistance from the veterans’ business outreach center;(II)the employment increases or decreases of small business concerns receiving assistance from the veterans’ business outreach center; and(III)the increases or decreases in profits of small business concerns receiving assistance from the veterans’ business outreach center;(iv)the number of referrals by the veterans’ business outreach center to other resources and programs of the Administration;(v)the results of satisfaction surveys, including a summary of any comments received from small business concerns receiving assistance from the veterans’ business outreach center;(vi)the range of percentage of disability and the average percentage of disability, as identified by the Department of Veterans Affairs, of individuals receiving assistance from the veterans’ business outreach center;(vii)the number of small business concerns receiving assistance from the veterans’ business outreach center that received financial assistance under loan programs of the Administration;(viii)the type and dollar amount of financial assistance received under loan programs of the Administration by small business concerns receiving assistance from the veterans’ business outreach center;(ix)an assessment of additional performance outcome measures for the veterans’ business outreach center, as identified by the Associate Administrator;(x)whether the Administrator waived, in whole or in part, the requirement to obtain non-Federal funds under subsection (i)(8) and, if so, the justification for the waiver; and(xi)the results of the examination of the veterans’ business outreach center under subsection (i)(10);(C)any recommendations of the Administrator for improvement of the veterans’ business outreach center program;(D)a discussion of how the veterans’ business outreach center program has been integrated with other resources and programs of the Administration; and(E)any additional information the Administrator determines necessary.(5)

Other activities and programs administered by the office of veterans business development

An evaluation of the effectiveness of any other activities and programs administered by the Office of Veterans Business Development, including using the metrics identified in paragraphs (1) through (4).

(b)

GAO Reports

(1)

Definitions

In this subsection—(A)the term covered individual means—(i)a veteran;(ii)a service-disabled veteran;(iii)a Reservist;(iv)the spouse of an individual described in clause (i), (ii), or (iii); or(v)the spouse of a member of the Armed Forces;(B)the terms Reservist and veterans’ business outreach center program have the meanings given those terms in section 32(h) of the Small Business Act, as added by this section; and(C)the terms service-disabled veteran, small business concern, and veteran have the meanings given those terms under section 3 of the Small Business Act (15 U.S.C. 632).(2)

Report on access to credit

(A)

In general

Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall submit a report regarding the ability of small business concerns owned and controlled by covered individuals to access credit to—(i)the Committee on Veterans' Affairs and the Committee on Small Business and Entrepreneurship of the Senate; and(ii)the Committee on Veterans' Affairs and the Committee on Small Business of the House of Representatives.(B)

Contents

The report submitted under subparagraph (A) shall include an analysis of—(i)the sources of credit used by small business concerns owned and controlled by covered individuals and the percentage of the credit obtained by small business concerns owned and controlled by covered individuals that is obtained from each source;(ii)the default rate for small business concerns owned and controlled by covered individuals separately for each source of credit described in clause (i), as compared to the default rate for the source of credit for small business concerns generally;(iii)the Federal lending programs available to provide credit to small business concerns owned and controlled by covered individuals;(iv)gaps, if any, in the availability of credit for small business concerns owned and controlled by covered individuals that are not being filled by the Federal Government or private sources;(v)obstacles faced by covered individuals in trying to access credit;(vi)the extent to which deployment and other military responsibilities affect the credit history of veterans and Reservists; and(vii)the extent to which covered individuals are aware of Federal programs targeted towards helping covered individuals access credit.(3)

Report on veterans’ business outreach center program

(A)

In general

Not later than 60 days after the end of the second fiscal year beginning after the date on which the veterans’ business outreach center program is established, the Comptroller General of the United States shall evaluate the effectiveness of the veterans’ business outreach center program, and submit to Congress a report on the results of that evaluation.(B)

Contents

The report submitted under subparagraph (A) shall include—(i)an assessment of—(I)the use of amounts made available to carry out the veterans’ business outreach center program;(II)the effectiveness of the services provided by each entity receiving financial assistance under the veterans’ business outreach center program;(III)whether the services described in subclause (II) are duplicative of services provided by other veteran service organizations, programs of the Small Business Administration, or programs of another Federal department or agency and, if so, recommendations regarding how to alleviate the duplication of the services; and(IV)whether there are areas of the United States in which there are not adequate entrepreneurial services for small business concerns owned and controlled by veterans and, if so, whether there is a veterans' business outreach center established under the veterans’ business outreach center program providing services to that area; and(ii)recommendations, if any, for improving the veterans’ business outreach center program.